GAMMA Investing LLC Purchases 4,063 Shares of Perpetua Resources Corp. (NASDAQ:PPTA)

GAMMA Investing LLC lifted its position in Perpetua Resources Corp. (NASDAQ:PPTA) by 1,658.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,308 shares of the company’s stock after acquiring an additional 4,063 shares during the quarter. GAMMA Investing LLC’s holdings in Perpetua Resources were worth $46,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PPTA. Condire Management LP lifted its holdings in Perpetua Resources by 6.9% during the 4th quarter. Condire Management LP now owns 890,459 shares of the company’s stock valued at $9,501,000 after buying an additional 57,399 shares in the last quarter. Amundi bought a new stake in Perpetua Resources during the 4th quarter valued at about $7,788,000. Geode Capital Management LLC lifted its holdings in Perpetua Resources by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 489,958 shares of the company’s stock valued at $5,228,000 after buying an additional 5,129 shares in the last quarter. Millennium Management LLC lifted its holdings in Perpetua Resources by 226.7% during the 4th quarter. Millennium Management LLC now owns 370,536 shares of the company’s stock valued at $3,954,000 after buying an additional 257,130 shares in the last quarter. Finally, Cohen & Steers Inc. bought a new stake in Perpetua Resources during the 4th quarter valued at about $2,729,000. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Stock Performance

NASDAQ:PPTA opened at $12.89 on Friday. Perpetua Resources Corp. has a one year low of $5.01 and a one year high of $17.96. The firm has a market cap of $922.15 million, a P/E ratio of -44.45 and a beta of 0.02. The firm has a 50-day simple moving average of $14.07 and a 200-day simple moving average of $12.05.

Perpetua Resources (NASDAQ:PPTA) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). On average, research analysts predict that Perpetua Resources Corp. will post -0.21 EPS for the current fiscal year.

Insider Activity

In other news, insider Michael Stephen Wright sold 6,500 shares of Perpetua Resources stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total value of $90,025.00. Following the transaction, the insider now owns 14,195 shares of the company’s stock, valued at $196,600.75. The trade was a 31.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Paulson & Co. Inc. acquired 7,575,757 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was purchased at an average cost of $13.20 per share, for a total transaction of $99,999,992.40. Following the transaction, the insider now owns 32,347,299 shares in the company, valued at approximately $426,984,346.80. The trade was a 30.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PPTA shares. HC Wainwright reiterated a “buy” rating and set a $27.50 price objective on shares of Perpetua Resources in a report on Tuesday, June 17th. B. Riley reiterated a “buy” rating and set a $17.00 price objective (up previously from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. National Bank Financial upgraded shares of Perpetua Resources to a “strong-buy” rating in a report on Friday, March 21st. Finally, National Bankshares reiterated an “outperform” rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Perpetua Resources presently has an average rating of “Buy” and a consensus price target of $21.17.

Perpetua Resources Company Profile

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.